Black Hills Corporation

DB:BHI Stock Report

Market Cap: €4.7b

Black Hills Past Earnings Performance

Past criteria checks 5/6

Black Hills has been growing earnings at an average annual rate of 4%, while the Integrated Utilities industry saw earnings growing at 8% annually. Revenues have been growing at an average rate of 1.6% per year. Black Hills's return on equity is 7.7%, and it has net margins of 13%.

Key information

3.99%

Earnings growth rate

0.38%

EPS growth rate

Integrated Utilities Industry Growth8.06%
Revenue growth rate1.61%
Return on equity7.66%
Net Margin13.01%
Last Earnings Update30 Jun 2026

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How Black Hills makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

DB:BHI Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Jun 262,29929950
31 Mar 262,28628850
31 Dec 252,31029250
30 Sep 252,27228540
30 Jun 252,24328440
31 Mar 252,20728040
31 Dec 242,12827340
30 Sep 242,12225540
30 Jun 242,12827640
31 Mar 242,13727640
31 Dec 232,33126240
30 Sep 232,53125500
30 Jun 232,586245-10
31 Mar 232,64925500
31 Dec 222,55225800
30 Sep 222,32325700
30 Jun 222,241266-40
31 Mar 222,139258-10
31 Dec 211,949237-10
30 Sep 211,87324300
30 Jun 211,83923560
31 Mar 211,79323130
31 Dec 201,69722830
30 Sep 201,68822040
30 Jun 201,66719530
31 Mar 201,67418920
31 Dec 191,73519900
30 Sep 191,75821830
30 Jun 191,75522430
31 Mar 191,77723430
31 Dec 181,75426530
30 Sep 181,70824200
30 Jun 181,72225300
31 Mar 181,70825100
31 Dec 171,68019400
30 Sep 171,65521200
30 Jun 171,65319700
31 Mar 171,63617500
31 Dec 161,53913700
30 Sep 161,4274100
30 Jun 161,3661700
31 Mar 161,313-2600
31 Dec 151,26114200
30 Sep 151,3641700

Quality Earnings: BHI has high quality earnings.

Growing Profit Margin: BHI's current net profit margins (13%) are higher than last year (12.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: BHI's earnings have grown by 4% per year over the past 5 years.

Accelerating Growth: BHI's earnings growth over the past year (5.2%) exceeds its 5-year average (4% per year).

Earnings vs Industry: BHI earnings growth over the past year (5.2%) exceeded the Integrated Utilities industry -1.7%.

Return on Equity

High ROE: BHI's Return on Equity (7.7%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/21 04:15
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Black Hills Corporation is covered by 14 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Edward DeAriasBMO Capital Markets Equity Research
James ThalackerBMO Capital Markets Equity Research
Ross FowlerBofA Global Research